Dellin Betances was throwing a bullpen session on Saturday, showing off a 95-mph fastball combined with a sharp-breaking curveball that had him on track for the Bronx before he forgot how to throw strikes last year.

All while Brian Cashman tried to figure out why it doesn’t translate to results.

“His stuff is still tremendous,” the Yankee GM said. “If he weren’t signed and scouts saw him throw one of his bullpens, they’d want to give him five million dollars on the spot.’’

Yes, Betances’ potential is still there. But the Yankees have been waiting seemingly forever to cash in on it, and he’ll be 25 in a few weeks, so at this point he’s a bit old to be called a phenom.

And more to the point, after the 6-foot-8 righthander issued the rather staggering total of 99 walks in 131.1 minor-league innings last year, prompting the Yankees to demote him from Triple-A to Double-A at midseason, Betances’ future is murky at best.

The same can be said for the overall state of the Yankees’ young pitching, mainly because 2012 was nothing short of disastrous.